Chatbot Myths Archives - BotCore Enterprise Chatbot Fri, 15 Mar 2024 10:05:24 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 https://botcore.ai/wp-content/uploads/2020/02/cropped-favicon-32x32-1-70x70.png Chatbot Myths Archives - BotCore 32 32 Top 5 Myths About AI You should stop believing https://botcore.ai/blog/top-5-myths-about-ai-you-should-stop-believing/ Mon, 11 Feb 2019 19:46:00 +0000 https://botcore.ai/?p=3992 Top 5 Myths About AI You Should Stop Believing As much as AI and its abilities are being spoken about and speculated today, there are quite a few myths that are doing the rounds as well. While some believe that it to be a deus ex machina, a tool that can resolve seemingly unsolvable problems, […]

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Top 5 Myths About AI You Should Stop Believing

As much as AI and its abilities are being spoken about and speculated today, there are quite a few myths that are doing the rounds as well. While some believe that it to be a deus ex machina, a tool that can resolve seemingly unsolvable problems, there are others who see it as just hype that will eventually die down. The reality about AI however, lies somewhere in between.

With the growing need for technology to make processes more efficient and provide companies with a competitive advantage, it is crucial to understand how AI can create value in your business and what its limitations are.

Alexander Linden, a Vice President Analyst at Gartner says “Business leaders are often confused about what AI can do for their enterprise. This is understandable, as there are many definitions and variants of AI that are present in the general discourse”.  Misconceptions and a lack of understanding about AI is an impediment for IT leaders who are trying to incorporate AI in their organizations.

In this article, we bust the 5 myths that are often associated with AI and make a case for why you should stop believing them NOW.

The top 5 AI MYTHS

1. There Is No Need For AI Strategy

As the abilities of AI are evolving, organizations should consider tapping into its capabilities and understand the potential impact this technology may have in addressing the organization’s business needs.

Deliberately refraining from using AI is akin to forgoing the next phase of automation and could put your organization at a competitive disadvantage.

Even if you choose to abstain from adopting an AI strategy for your company, this decision should be made on pragmatic grounds supported by research and robust data. The need for AI in your organization should also be regularly evaluated and modified to fit the organization’s evolving needs.

2. AI Is All About Automation

While it is true that AI can automate several manual tasks, its range of capabilities are not always synonymous with automation itself. Automation is a subset of AI.

According to an extensive survey by Deloitte Research of AI applications in various industries, AI applications fall into three categories: product, process, and insight.

  • Product applications use AI to provide a better experience for the end user, either by enabling “intelligent” behavior or by automating tasks that a human user often performs.

  • AI is used in Process applications to enhance, scale up, or automate business processes.

  • Insight applications on the other hand use AI, machine learning and computer vision to analyze data and glean insights in order to drive better business decisions.

In only some of the cases is AI really used to automate human work. More often, AI is used to perform tasks that are unattainable by human cognitive abilities. While automation refers to the completion of a task without human interference, AI is used to power machines, making them capable of thinking or at least making intelligent decisions based on a series of predefined models and algorithms.

3. AI, Machine Learning And Deep Learning Are The Same

AI, Machine Learning and Deep learning are often interchangeably used or misunderstood to be the same, despite being fundamentally different.

  • Artificial Intelligence is the human-like intelligence exhibited by machines that encompasses various human cognitive abilities.

  • Machine Learning is a set of algorithms that allows a program to generate results accurately without the results being fed into the program explicitly. ML is in fact one of the tasks that AI performs by continually learning from the data fed into it and can be referred to  as a sub-discipline of Artificial Intelligence.

  • Deep Learning, however, refers to the algorithms used to solve problems based on neural networks designed to mimic the neurons in the human brain. DL is one of the specialisations of ML and in turn, one of the aspects of AI.

4. AI Will Replace Humans

A common AI myth is that it can outsmart and replace humans at some point. This misconception is also one of the major barriers to AI adoption.

While it is true that AI makes machines extremely intelligent, we need to understand that machines cannot acquire such a potential all by themselves. The capabilities of a machine is  limited to the data that is fed to it by a human being and the actions that they have programmed the machine to carry out.

It is important to identify the obvious benefits AI and ML add when it comes to automatically identifying patterns from an expansive amount of data with little to no human intervention. However, the algorithms and models that make this feat possible, have to be built by humans. So essentially, AI only can get as smart as a human mind can make it.

Another crucial feature that sets human intelligence well above AI is that humans are capable of recognizing when there is a problem or redundancy with a certain approach they are taking. AI models on the other hand, tend to pursue the best possible answer out of nearly infinite possibilities, even if it leads to them never exiting the process.

5. AI Is A Cost-intensive Undertaking

AI is looked at with apprehensive often, based on the assumption that it is going to be a costly investment for the company. However, high cost is not the case for AI in general. There are many AI tools that are available for businesses that do not demand an exorbitant investment to implement AI solutions. Some important AI solutions which are cost effective and also  yield a huge ROI and several business benefits include chatbots, RPA, modern intranets with AI capabilities and advanced analytics.

On the other hand however, AI development does require expertise in programming languages and development practices. While hiring data scientists for this job may rack up costs, organisations can consider training the existing resources to effectively implement the algorithms themselves.

conclusion

It is necessary that companies take concerted initiatives to develop comprehensive strategies that accommodate AI and prepare themselves for futuristic environments that are compatible with AI powered technologies. It is imperative for companies to act on these initiatives before any new market disruptors jeopardise the competitive edge the organization may hold in the industry.

This demands the leadership of organisations to have a pragmatic and precise understanding about AI’s capabilities and its trajectory into the future.  Having a strong academic foundation and practical experience in AI among the leadership allows organisations to avoid misinterpretations and misleading myths about AI.

Adopting AI just for just a few functional areas will be ineffective in making a great impact on the organization as a whole. Hence, companies must try to incorporate an effective blend of embedded, edge and centralized intelligence systems across all functions and teams.

Adopting AI and related technologies in building an intelligent business environment will strengthen the alliance of humans and intelligent machines and produce a powerful workforce for the future. Companies must acknowledge that humans and machines will continue to be the indispensable building blocks of the new workforce and plan to utilise their combined strengths effectively.

Acuvate believes that organizations need AI to accelerate their digital transformation journey. Our range of solutions and services around conversational AI, digital workplace, business intelligence and RPA are built with a strong AI foundation. If you’d like to learn more about AI and its capabilities, please feel free to get in touch with one of our AI experts for a personalized consultation.

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How Chatbots Can Help The Hospitality Industry Transform The Guest Experience https://botcore.ai/blog/how-chatbots-can-help-the-hospitality-industry-transform-the-guest-experience/ Mon, 23 Jul 2018 18:53:00 +0000 https://botcore.ai/?p=120 How Chatbots Can Help The Hospitality Industry Transform The Guest Experience The hospitality industry is one of those industries in which warmth, personalization and customer satisfaction remain critical components to capture, retain and foster brand loyalty and ensuring bottom-line profitability. In this blog, we’ll discuss how chatbots are proving to be an effective solution for […]

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How Chatbots Can Help The Hospitality Industry Transform The Guest Experience

The hospitality industry is one of those industries in which warmth, personalization and customer satisfaction remain critical components to capture, retain and foster brand loyalty and ensuring bottom-line profitability. In this blog, we’ll discuss how chatbots are proving to be an effective solution for bridging the emotive personalization gap between hospitality businesses and the guest experience.

Chatbots have become a significant technological trend for many important reasons. Before discussing how chatbots can transform the guest experience let’s understand the different benefits of bots from both guest-facing and business-facing perspectives.

KEY GUEST-FACING BENEFITS OF CHATBOTS

  • Nothing is more frustrating to a guest than having to wait for a response whether it is on the phone, on email or while queuing up to meet a customer services agent in person. Chatbots are available instantaneously, and customers appreciate, first and foremost, the ability to have simple questions answered quickly.

  • Chatbots are also available 24/7 and accessible anywhere, anytime, on multiple online platforms, which makes access to the business easy and effortless.

  • Instantaneous access means that problems can be resolved quickly.

KEY BUSINESS-FACING BENEFITS OF CHATBOTS

  • Chatbots enable you to scale up your operations quickly in a cost-effective manner because of their ability to handle unlimited conversations simultaneously.  This also means that chatbots are able to bring in exponentially more business via leads.

  • Chatbots enable you to tap into a younger or more tech-savvy market that is increasingly mobile and prefers chat conversations to live ones.

  • Chatbots also drive the benefits of engagement, feedback, insight into consumer behavior trends, as well as mass marketing, on a significantly larger scale.

  • Chatbots help in understanding the likes and dislikes of guests and tailoring the services accordingly

TRANSFORMING THE GUEST EXPERIENCE WITH CHATBOTS

The hospitality industry covers a large berth of businesses including hotels, restaurants, cafeterias, nightclubs, resorts, travel agencies and tour operators. Chatbots have a number of different applications that can be tailor-made to suit the requirements of each business and its corresponding customer or guest profiles. Consider a few examples of such applications:

1. VIRTUAL ASSISTANCE FOR BOOKING ROOMS/FLIGHTS OR SPECIFIC SERVICES

Traditionally guests have always had to call in or use online platforms to book rooms/flights or packages. Chatbots are available instantaneously which means that guests no longer need to wait for a response. Chatbots are also available 24/7 and can even send multilingual responses, which adds more convenience to the guests. from check-in

A chatbot can also personalize the guest experience by offering options, recommendations, and custom solutions as well as answering any specific questions the guest may have. Here is an example of a live chatbot conversation that simulates this interaction on a basic level:

[Chatbot:  I am the XYZ Hotel bot! How may we be of assistance today?

Guest:  Hi! I’d like to know what your lowest room rate is?

Chatbot:  How many guests will be staying?

Guest:  2

Chatbot: Thank you. Our lowest room category rate starts at $29 per night for a standard double room. Please see a detailed list of our options along with their prices below.]

Chatbots can even handle ad-hoc requests, concierge requirements or more complicated requests such as:

[Guest:  I’m running late because of my delayed flight. Can you check me in early?

Chatbot: Sure I can help you with that! At what time are you likely to reach the hotel. Our standard check-in is at 3 PM

Guest: 7.30 PM

Chatbot: okay, done I have checked you in! Please contact the reception desk for your room keys on arrival.]

2. INSIGHT DRIVEN SERVICES

Chatbots are a rich source of data on consumer behaviour, trends, and preferences achieved in many different ways. Feedback and survey options given during a conversation collect data on the guest experience, what they liked and what they didn’t like which is valuable fodder when it comes to improving services or marketing your business’ most attractive features.

Consistent collection of data over the long term can pinpoint trends in the types of questions that customers ask the most. For instance, if “How can I contact the Spa to book a massage?’’ is your most frequently asked question’, it’s time to ensure that the answer to this is more clearly articulated or presented to the consumer in your website or overall communications strategy. Pre-emption and over-delivering on expectations are essential to creating the perfect guest experience. Chatbots also can be used to create attractive schemes or manage the workforce more optimally. Chatbots help in creating a very personalized experience by understanding the likes and dislikes of guests in general and loyal guests in particular.

MARKETING COMMUNICATIONS THAT WOW THE GUEST

Given their potential and reach, chatbots are an effective way to channelize marketing communications that can generate genuine returns. It is important to mention here that spamming offers only serves to turn off customers and may actually stop them from wanting to come back.

On the other hand, specific marketing messages that look like they’ve been customized for the guest are mostly welcome and/or appreciated by guests. Here are some examples:

[Chatbot: We saw your inquiry about the Lakeview Suite from before. We are offering a 25% discount on the room rates if you book between 1st to 15th July. Would you like to know more? ]

[Chatbot:  You’ve accumulated enough loyal points for a free nights’ stay at our hugely popular Club Oriental Suite. Book your stay now before your points expire! ]

GOING THE EXTRA MILE

Last but not the least, chatbots can also direct complex requests that are beyond its scope (inquiries, complaints, troubleshooting etc.) to human administrators who can ensure that the guest receives a call or personal attention to have the matter addressed satisfactorily.

FINAL WORDS

Looking at the upward trajectory that chatbots have been experiencing in recent times, there is no doubt that chatbots are here to stay. In an environment where more and more businesses are seeking to outvie each other to capture and retain customer loyalty, the adoption of chatbot technology, especially in the hospitality industry is a fundamental no-brainer.

If you’re looking to implement chatbots for your business, you might be interested in checking out our enterprise chatbot builder platform – BotCore. Deployable both on cloud and on-premise environments, BotCore is used by several Fortune 500 and large enterprises to build custom chatbots for their customers and employees.

If you’d like to learn more about this topic, please feel free to get in touch with one of our experts for a personalized consultation.

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7 Chatbot Myths You Need To Stop Believing https://botcore.ai/blog/7-chatbot-myths-you-need-to-stop-believing/ Fri, 01 Jun 2018 17:10:00 +0000 https://botcore.ai/?p=133 7 Chatbot Myths You Need To Stop Believing By 2020, at least 80% of businesses are expected to have some form of chatbot automation implemented– Business Insider In the last few years, there has been much hype around chatbots and Artificial Intelligence (AI) in digital transformation. These technologies with their conversational capabilities can transform the business […]

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7 Chatbot Myths You Need To Stop Believing

By 2020, at least 80% of businesses are expected to have some form of chatbot automation implemented
– Business Insider

In the last few years, there has been much hype around chatbots and Artificial Intelligence (AI) in digital transformation. These technologies with their conversational capabilities can transform the business workflow process and increase customer loyalty.

Several leading organizations have already adopted chatbots to improve their customer satisfaction and increase employee productivity.

Despite the uses and benefits that chatbots will be able to provide, many organizations are still hesitant in trusting chatbots entirely. The misconceptions and myths about chatbots are restricting them from implementing one and having a healthy ROI on it.

Here are a few popular myths or misconceptions about chatbots.

chatbot myths you need to stop believing

myth 1: chatbots will replace humans

Chatbots will replace humans and take away our jobs! This is the biggest fear probably rising across the organizations. A sense of insecurity sprouts out of such fears. So, organizations tend to not take advantage of the new technology.

However, chatbots play a complementary role and automate a few mundane jobs to provide more quality time for productive work. This can have an impact on overall productivity on both individual and organization level.

AI WILL ELIMINATE 1.8 MILLION JOBS, IT WILL ALSO CREATE 2.3 MILLION JOBS BY 2020!
– GARTNER STUDY

As a matter of fact, chatbots may never replace humans. They would rather help in reducing workload and free human employees. They’d help to do repeated, routine tasks like answering FAQs, receiving requests, generating leads, etc.

According to a PwC report, AI will reduce repetitive tasks such as paperwork (82%), scheduling (79%) and timesheets (78%).

Owing to this, employees will get more opportunities to focus on strategic, productive, innovative and creative tasks.

MYTH 2: CHATBOTS ARE EASY TO BUILD

This is both true and false. Chatbots are easy to build and deploy if you have a robust enterprise chatbot platform, personnel with the needed skills and expertise in the areas of AI, Conversational UX etc.

There are a wide range of challenges for developers to understand the purpose of chatbots, design chatbot conversations, frame rules and convert the information into a conversational flowchart, build development platforms or frameworks and integrate it with business apps and ensure the bots are aligned with the business priorities.

If you’re planning to build chatbots in-house for your organization, just remember that there is a lot of work involved to build them! Deployment of a successful chatbot requires a lot of planning and research in advance.

It would be interesting to note that before chatbot platforms were introduced into the market, building a bot was complicated, time-consuming, and required a specific set of sophisticated skills.

However, organizations having domain expertise and AI skills can deploy complex solutions within a short span of 6-8 weeks.

Learn More: Basic Resources Required to Build an Enterprise Chatbot

MYTH 3: CHATBOTS WILL REPLACE MOBILE APPS

Have tablets made smartphones old-fangled? No. Similarly, bots and mobile apps will also co-exist. For example, take ridesharing company Uber – customers can request a cab through an app as well as its Facebook messenger bot. So, it is not quite accurate to say that chatbots can replace apps.

Chatbots provide an easy way to text and request for information, whereas applications are about downloading and storing information. Moreover, chatbots offer textual conversational experience and apps stand for visual experiences. This clearly shows that chatbots will not replace apps with their distinct features. Rather, it appears like they complement each other.

Furthermore, organizations can leverage both bots and apps for their business growth. Besides, chatbots need messaging apps or channels such as Facebook, Slack, Skype for Business to deliver the conversational experience. Chatbots amplify the mobile app experience by giving it a new dimension of interaction.

MYTH 4: CHATBOTS ARE ONLY FOR BIG ORGANIZATIONS

Although artificial intelligence trend is spreading far and wide, many small and mid-sized organizations assume that AI technology is reserved only for large tech-savvy organisations. Assuming the boom of chatbots is only for large organizations is a major misconception.

Recent reports on chatbot market analysis show that AI technology is inspiring startups to incorporate chatbots to achieve definitive success and the mid-scale enterprise segment is expected to grow at the highest CAGR.

Chatbots and AI can be considered as an enhanced channel to streamline operations in small and mid-sized companies. They can go to the optimal extent of delivering responsiveness and efficiency within the organization.

Another misconception connected with this is that building chatbots could be expensive which is a false assertion. There are many powerful bot builder platforms available at an affordable cost. Using these platforms, you can cost-effectively deploy the desired chatbot persona which possesses the potential to cut down varied business costs.

Read More: How AI-powered Enterprise chatbot platforms are transforming the future of work

MYTH 5: CHATBOTS ARE ONLY FOR CUSTOMER SERVICE SECTORS

Most of us consider that the primary function of chatbot is to chat with a customer. This is just fiction! The most common use case for chatbots is answering customer requests but they are not just limited to customer service tasks. There are a lot of different interesting use cases.

Below are a few examples of the most successful chatbot use cases in various sectors.

Enterprise-grade chatbots have the ability to deliver optimum results when mapped with an appropriate use case in any industry. Chatbots are poised to disrupt the way we interact within our organization and with our customers.

Read More: Different ways your business can use chatbots

MYTH 6: ALL BOTS USE AI

Many are under the misconception that chatbots use AI and only work with it. The fact is that not all chatbots are AI based, most chatbots are rule-based and follow a simple, autonomous process, something along the lines of a decision tree.

Many organizations prefer these type of chatbots to understand the intent and context of the user. With the capabilities of NLP/ML, they can identify context from the requests typed by users and respond back with a relevant answer as bot trained on a large training set. In order to assist this purpose, chatbots need not be AI-based.

At present, there are three types of chatbots:

  1. Script-driven: These rely on pre-defined scripts to answer queries.
  1. Interference-driven: Answer based on NLU, deep learning and cognitive learning to respond like humans.
  1. Data-driven: They recognize patterns based on previous learnings and respond from catalogued responses.

However, developing a perfect AI-based chatbot is not a simple task as it needs high-end developers and large sets of data on real human conversations.

MYTH 7: CHATBOTS DON’T UNDERSTAND THE CONTEXT

There is a popular myth that chatbots don’t understand a user’s intent and might not always provide the desired response to the user. This is somewhat true for traditional chatbots. However, with the advancements in AI technologies like Natural Language Processing and Machine Learning, chatbots are better able to process user intent and adapt to the jargon to give contextual, personalized and relevant responses with a wide range of vocabulary.

CONCLUSION

CHATBOTS ARE WORTH THE INVESTMENT

Organizations irrespective of their size and industry should consider getting ahead of the curve and embrace chatbot technologies now to leverage future opportunities. Chatbots should be a part of your digital transformation strategy, both to help you better serve customers/ employees today and to position you for the future.

Adopting chatbot technology can effectively streamline your business processes, enhance employee engagement, improve customer service, lower the operational costs and deliver a better employee experience.

Learn More: A Buyer’s Guide To Choosing The Best Chatbot Builder Platform

Exposing your team to the potential of intelligent chatbots may just be the most effective way to exploit the potential of your business and your customers. The value of chatbots in an increasingly self-service-oriented landscape is that well-designed bots can go beyond just semantic search and actually execute simple transactions without much of human intervention.

Chatbot trends: What’s Big in Chatbots in 2018 and Beyond

Ready to deploy a chatbot tailored to your business? check out BotCore – An enterprise-ready conversational Bot builder platform which has inbuilt support for a number of conversation channels across text, voice and custom channels.

If you’d like to learn more about this topic, please feel free to get in touch with one of our experts for a personalized consultation.

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